Which type of loan is similar to a credit card, where the lender sets the maximum amount that you can borrow based on your equity in the home?

A.

A second mortgage

B.

Equity

C.

An equity line of credit

D.

An amortization

Question

Which type of loan is similar to a credit card, where the lender sets the maximum amount that you can borrow based on your equity in the home?



 



A.

A second mortgage




 



B.

Equity




 



C.

An equity line of credit




 



D.

An amortization

mayankdevnani · Answer

answer is option c )An equity line of credit http://en.wikipedia.org/wiki/Home_equity_line_of_credit